Vikas Lifecare Limited has acquired 51% stake in M/s Shashi Beriwal & Company Pvt Ltd against a cash payout of INR 110 Million. Vikas Lifecare has been striving to set a firm foot in the Consumer Products Business Segment with a specific focus on Agro Products and FMCG. This current acquisition will supplement the company efforts towards the target to launch and consolidate a retail brand of its own. During the recent 18 months, The Company started and acquired multiple facilities to process a selected range of Agro Products including Premium Agro Products including Cashew Nuts, Almonds, and Premium Rice, and subsequently moved to start processing selected spices to the offer palette with Cloves & Black Pepper. The Company is continually exploring strategic partnerships to add Organic Agro Products as well to the product offing. Recently the company had invested INR 150 Million to acquire 30% ownership in a chain of retail stores - "Ardh Sainik Canteen" a business with subsidized retail stores aimed to service the families of Serving and Ex-Military personnel, which will every way pave way to integrate the products from own existing facilities being retailed directly to mass consumers via these retail stores.
The most recent addition to product portfolio being Beverages. The company will be looking out for expanding the product range and pacing the process to gain its place in the retail business segment of consumer products via continuous investments and acquisitions.
Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 4.92 as compared to the previous close of Rs. 4.94. The total number of shares traded during the day was 1267679 in over 825 trades.
The stock hit an intraday high of Rs. 4.98 and intraday low of 4.86. The net turnover during the day was Rs. 6238563.00.